The Indonesian President Joko Widodo and visiting Singaporean Prime Minister Lee Hsien Loong on Tuesday signed agreements on the Economy, Travel Bubbles and the Extradition of Fugitives.
Addressing a press conference with Lee after their encounter in the city of Bintan, Riau Islands province, Widodo stated that the two leaders agreed to strengthen cooperation to revive the economies of the two countries amid the COVID-19 pandemic.
“The meeting noted new investments worth US$9.2 billion, including in renewable energy, as well as the construction of a logistics hub at Tanjung Priok port in Jakarta,” Widodo said in a speech posted on his official YouTube account.
Widodo noted that Singapore was the biggest investor in Indonesia, with investments worth $7.3 billion between January and September last year.
Both leaders also welcomed the signing of a defence cooperation agreement, the reopening of quarantine-free cross-border travel to Batam and Bintan, the extension of the bilateral extradition agreement from 15 years to 18 years, and the renewal of the agreement on the Jakarta FIR and Singapore FIR.
